Goldman Sachs Group Inc.’s chief executive said guilty pleas by foreign banks could pose difficult decisions by other financial firms on whether they can continue to do business with them.

Speaking with reporters after Goldman’s annual shareholder meeting in Irving, Texas, CEO Lloyd Blankfein said effects any U.S. action against a bank would have on the markets, and its relationships with counterparties like Goldman, “depends on what the consequences of the guilty pleas are.”

The Wall Street Journal reported Thursday that Credit Suisse Group AG had tentatively agreed to pay almost $2.5 billion to the Justice Department and banking regulators and is expected to plead guilty to criminal charges to settle a probe into how the firm allegedly helped Americans evade taxes.

UPDATE:An earlier version of this story misspelled the name of the city where the meeting was held. It was in Irving, Texas.